- Lithium Energy (LEL) confirms “positive” lithium concentrations and specific yields across “significant” brine intersections at its Solaroz project in Argentina
- Conductive brine sample assays were taken from the upper and lower aquifers of the third drill hole in the area, returning lithium concentrations of up to 397 and 395 milligrams per litre (mg/l)
- The company says drilling was terminated at a depth of 590 metres due to drill rig limitations, but lithium brine mineralisation continues past this depth
- The new results support the potential for the widespread occurrences of lithium brines across the 12,000-hectare tenure, and LEL is mobilising its drill rig to prepare for the fourth hole of its 10-hole drilling program
- LEL shares are down 1.47 per cent and trading at 67 cents at 3:18 pm AEDT
Lithium Energy (LEL) has confirmed positive lithium concentrations and “significant” brine intersections in its third drill hole at its Solaroz lithium brine project in Argentina.
Assay results and geophysical hole logging analyses reveal concentrations and specific yields across the upper and lower aquifers at its third drill hole.
The results follow the previous lithium discovery made by LEL at the first drill hole located
15 kilometres away at the Mario Angel concession at Solaroz.
Progressive intersections of 215 metres of lithium brine mineralisation were encountered in the third drill hole across the upper and lower aquifers at a depth of 590 metres, which was the physical limit of the drill rig.
Conductive brine sample assays were taken from the upper and lower aquifers to return lithium concentrations of up to 397 and 395 milligrams per litre (mg/l).
LEL analysed assays and hole logging to report an average specific yield of 18 per cent in the upper aquifer and an average concentration of 347 mg/l of lithium across a 125-metre intersection from 158 metres deep.
In the lower aquifer, LEL reported an average concentration of 151 mg/l of lithium concentration across a 90-metre intersection from a 500-metre depth, with an averaged specific yield of 14 per cent.
Drilling was terminated at a depth of 590 metres due to drill rig limitations, but the drill hole was still encountering lithium brine mineralisation.
LEL is yet to determine the depth of the drill hole and overall mineralisation.
“Encountering further substantial intersections of lithium brine mineralisation in our third drillhole at Solaroz, located approximately 15 kilometres from our initial lithium discovery, is highly significant as, together with the interpretation of recently conducted geophysics, it supports the potential for the widespread occurrence of lithium mineralisation within the company’s 12,000-hectare Solaroz tenements,” LEL Executive Chairman William Johnson said.
“The specific yields and porosity also indicate that brine extraction conditions are
favourable. With these positive results, the company has commenced work to determine an optimal extraction methodology.”
While geophysical hole logging and assay results are pending for hole two, the company is mobilising its drill rig to prepare for the fourth hole of its 10-hole drilling program.
LEL shares were down 1.47 per cent and trading at 67 cents at 3:18 pm AEDT.